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Senior management duo to depart Cofunds

Cofunds founder member Andy Creak and finance director Andrew Harris are to leave the platform, Money Marketing has learnt.

Creak was a founding member of Cofunds and is currently managing director, business development and recently completed a review of the platform’s business model.

Harris joined Cofunds in 2003 and is currently managing director of finance and controls.

In an internal memo, seen by Money Marketing, the group says it is set to announce a new finance director shortly.

Cofunds chief executive officer Brett Williams says: “Andy Creak has been here since the beginning and has done a tremendous job. He has recently completed work on our business model and after a chat we felt it was time for him to move on. We will not be replacing Andy’s role however I’d expect an announcement on the finance director side coming in the very near future.”

Cofunds has hit the headlines in the past couple of months amid concerns from both advisers and fund group’s that it is set to hike up its charging structure.
Last month saw a number of fund management houses meet to discuss the proposals set out by Cofunds, which take into account current sales and back books of business.

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